RE:RE:RE:RE:RE:3MM ounces is the keyI never owned MQR until I bought a small amount this morning. I own mostly juniors. I like the ones starting up production, in part because share price is usually low due to start-up risks. MQR is not a true start-up since it is using a mine and mill purchase to become a small producer. And also it being a washed up mine and with an additional large low-grade property, this doesn't look attractive based on a first look at the assets.
However, I was attracted by Rob McEwen's earlier stake in the company. I would have to believe he is on board with this acquisition. I have watched and greatly profited over the past 10 years by investing in companies he invests in. My most profitable investment ever was in Minera Andes (Argentina- San Jose mine and Los Azules property), which he merged with USGold to form McEwen Mining. MUX is now making some Canadian acquisitions. McEwen's stake in MQR is personal, not corporate, but I think his investment criteria are pretty consistent.
So I am going to watch this one and add more shares if I become more comfortable and if the share price stays down. I am not troubled too much by large break-even prospective properties because the leverage to rising gold prices is so high. It will be interesting to see if the market pays any attention to MQR now after this deal.